Photo: iRobot
iRobot, the company behind the iconic Roomba vacuum cleaner, has issued a dire warning to investors, stating it may cease operations within the next 12 months. The announcement follows the collapse of a planned acquisition by Amazon due to regulatory hurdles and comes amidst intense competition from Chinese manufacturers. The company has since undergone significant restructuring, including substantial layoffs and a sharp expense reduction. iRobot's stock plummeted roughly 36% following the news, reflecting investor concerns about the company's future viability.